RIM heats up as BlackBerry 10 launch nears

Research In Motion (RIMM) shares are soaring ahead of the imminent launch of the firm’s next-generation BlackBerry 10 platform. The stock’s recent run could come screeching to a halt at any moment as short interest grows, but Jefferies & Company analyst Peter Misek thinks there’s plenty more good news ahead for RIM. In a note to investors on Friday morning, Misek told clients to buy RIM stock and set a new 12-month price target of $ 19.50, up from his previous $ 13 target with a Hold rating.

[More from BGR: Samsung’s latest monster smartphone will reportedly have a 5.8-inch screen]

“Our checks indicate that the carriers have agreed to volume commitments for the first two quarters post-launch,” Misek wrote. He also notes that “BB10 builds have been raised from 500K/month in early Dec to 1M-2M/month,” and “Developers are supporting BB10 more than we expected. RIM is targeting 70K BB10 apps available at launch.”

[More from BGR: Cable companies called ‘monopolies that stifle competition and innovation’]

Misek says that RIM’s next-generation platform will enable secure corporate email services on iOS and Android devices and the market has overlooked this major change so far. The analyst believes RIM’s March- and August-quarter results will beat Wall Street’s current consensus now that RIM’s huge installed base will finally have a “legitimate upgrade opportunity.”

This article was originally published on BGR.com

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Flu season fuels debate over paid sick time laws

NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.

A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.

"It's a balancing act" between physical health and financial well-being, she said.

An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.

Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.

Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.

The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.

Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.

But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.

Michael Sinensky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."

"We're at the point, right now, where we cannot afford additional social initiatives," said Sinensky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.

Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.

To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.

"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.

Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.

Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.

In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.

The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.

Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.

While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.

"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."

___

Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.

___

Follow Jennifer Peltz at http://twitter.com/jennpeltz

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Asian shares pause, yen volatile as Bank of Japan meeting eyed

TOKYO (Reuters) - Asian shares held steady on Monday after surging to multimonth highs last week, while the yen firmed after touching a new low in choppy trade ahead of a Bank of Japan policy meeting this week that is expected to yield bold monetary easing measures.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was steady after earlier easing as much as 0.3 percent. The index closed at a 17-1/2-month high on Friday as upbeat U.S. and Chinese data lifted sentiment.

Australian shares <.axjo> inched up 0.1 percent while South Korean shares <.ks11> recouped earlier losses but remained capped as a stronger local currency hurt exporters.

The focus in Japan was on the BoJ, which starts its two-day policy meeting on Monday under growing political pressure to pursue bolder measures to beat deflation, with speculation ranging from an open-ended commitment to buy assets until a 2 percent inflation target is achieved to simply boosting its asset buying schemes.

Early on Monday, the dollar touched a fresh 2-1/2-year high of 90.25 yen, and the euro rose to a high of 120.27 yen, near its peak since May 2011 of 120.73 hit on Friday.

But the yen clawed back some of its losses against the dollar and the euro. The dollar slipped back to a low of 89.42 yen and was last trading at 89.66 yen, while the euro also fell to a low of 119.08 and last traded at 119.44 yen.

"Profit taking pushed the dollar and the euro down against the yen but short covering lifted them off their lows. Trading is thin and quite volatile. I don't think there will be any clear direction until the BoJ decision," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.

Saito said "sell the fact" behavior could push the dollar down about 1 yen, but a serious disappointment on the BoJ outcome was unlikely.

The correction to the yen's years of excessive strengthening is now spurring adjustments to currencies such as the Korean won. A firmer won weighed on the Korea Composite stock Price Index <.ks11>, held back by exporters, and capping it near levels unchanged from Friday.

"Concern over the weakening yen appears to be playing a large part as the main board (Kospi) continues to underperform compared to Asian peers due to foreign selling," said Kim Joong-won, an analyst at NH Investment & Securities in Seoul.

Tokyo's benchmark Nikkei average <.n225> also slipped 0.9 percent as investors booked profits from the Nikkei's 2.9 percent rally on Friday, its biggest daily gain in 22 months. The Nikkei posted a 10th straight week of gains, its longest since 1987. <.t/>

Many investors largely keep short position on the yen.

"We expect the door for further easing will likely be left open irrespective of the outcome of BoJ policy meeting, either explicitly by the BoJ or implicitly through government's plan to nominate doves to replace the governor and deputy governors," Barclays Capital said in a note to clients.

Friday's data showed while currency speculators slightly cut their bets against the yen in the week to January 15, they remained overwhelmingly negative on the currency.

RISK APPETITE RETURNING

The steady showing in Asia equities followed a rise in global equities late last week when signs Washington may avert a fiscal crisis helped improve sentiment.

Republicans said the House will consider a bill to raise the U.S. debt ceiling enough to allow the country to pay its bills for another three months. The strategy would buy time for the Democratic-controlled Senate to pass a budget plan that shrinks the federal deficit.

The Dow Jones industrial average <.dji> and the Standard & Poor's 500 Index <.spx> ended Friday at five-year highs on a solid start to the quarterly earnings season. U.S. markets are closed on Monday for the Martin Luther King Jr. holiday.

Oil prices, however, took their cues from a weak consumer sentiment report in the United States, which showed a drop to the lowest in a year in January as a result of the uncertainty surrounding the country's debt crisis. Concerns about demand overshadowed supply disruption fears, reinforced by the Islamist militant attack and hostage-taking at a gas plant in Algeria, a member of the Organization of Petroleum Exporting Countries.

U.S. crude futures fell 0.4 percent to $95.21 a barrel while Brent fell 0.3 percent to $111.60 early on Monday.

(Additional reporting by Ian Chua in Sydney and Joyce Lee in Seoul; Editing by Shri Navaratnam)

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Priest Is Planning to Defy the Vatican’s Orders to Stay Quiet

Jekaterina Saveljeva for The New York Times

The Rev. Tony Flannery, an Irish priest, was suspended by the Vatican last year. “I refuse to be terrified into submission,” he said.

DUBLIN — A well-known Irish Catholic priest plans to defy Vatican authorities on Sunday by breaking his silence about what he says is a campaign against him by the church over his advocacy of more open discussion on church teachings.

The Rev. Tony Flannery, 66, who was suspended by the Vatican last year, said he was told by the Vatican that he would be allowed to return to ministry only if he agreed to write, sign and publish a statement agreeing, among other things, that women should never be ordained as priests and that he would adhere to church orthodoxy on matters like contraception and homosexuality.

“How can I put my name to such a document when it goes against everything I believe in,” he said in an interview on Wednesday. “If I signed this, it would be a betrayal not only of myself but of my fellow priests and lay Catholics who want change. I refuse to be terrified into submission.”

Father Flannery, a regular contributor to religious publications, said he planned to make his case public at a news conference here on Sunday.

The Vatican’s doctrinal office, the Congregation for the Doctrine of the Faith, wrote to Father Flannery’s religious superior, the Rev. Michael Brehl, last year instructing him to remove Father Flannery from his ministry in County Galway, to ensure he did not publish any more articles in religious or other publications, and to tell him not to give interviews to the news media.

In the letter, the Vatican objected in particular to an article published in 2010 in Reality, an Irish religious magazine. In the article, Father Flannery, a Redemptorist priest, wrote that he no longer believed that “the priesthood as we currently have it in the church originated with Jesus” or that he designated “a special group of his followers as priests.”

Instead, he wrote, “It is more likely that some time after Jesus, a select and privileged group within the community who had abrogated power and authority to themselves, interpreted the occasion of the Last Supper in a manner that suited their own agenda.”

Father Flannery said the Vatican wanted him specifically to recant the statement, and affirm that Christ instituted the church with a permanent hierarchical structure and that bishops are divinely established successors to the apostles.

He believes the church’s treatment of him, which he described as a “Spanish Inquisition-style campaign,” is symptomatic of a definite conservative shift under Pope Benedict XVI.

“I have been writing thought-provoking articles and books for decades without hindrance,” he said. “This campaign is being orchestrated by a secretive body that refuses to meet me. Surely I should at least be allowed to explain my views to my accusers.”

His superior was also told to order Father Flannery to withdraw from his leadership role in the Association of Catholic Priests, a group formed in 2009 to articulate the views of rank-and-file members of the clergy.

In reply to an association statement expressing solidarity with Father Flannery, the Congregation for the Doctrine of the Faith denied it was acting in a secretive manner, pointed out that Father Flannery’s views could be construed as “heresy” under church law, and threatened “canonical penalties,” including excommunication, if he did not change his views.

This month, the Congregation for the Doctrine of the Faith wrote to an American priest, Roy Bourgeois, notifying him of his laicization, following his excommunication in 2008 over his support for the ordination of women.

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100 Years of U.S. Presidential Inaugurations

On March 4, 1913, Woodrow Wilson took the oath of office. Nearly 100 years later, Barack Obama will take that same oath.

The U.S. presidential inauguration looks a tad different than it did a century ago. In 1913, women still did not have the right to vote and Wilson rode to the Capitol in a horse-drawn carriage. And don’t expect to see President Obama wearing a silk top hat like Wilson either.

[More from Mashable: Watch Every President’s Inauguration Since Reagan in 36 Seconds]

Thanks to the digital archiving of government images, zipping through 100 years of presidential history doesn’t even require a trip to the library. We’ve compiled the most memorable photographs and videos taken at presidential inaugurations since 1913 for a scrollable history lesson.

[More from Mashable: The Letters Kids Wrote to Obama About Gun Control]

If you like your history well-aged, then there’s also a special gallery at the bottom featuring images from inaugurations that occurred before 1913 — including those of Abraham Lincoln, Theodore Roosevelt and Ulysses S. Grant.

Woodrow Wilson, March 4, 1913

“President-elect Wilson and President Taft, standing side by side, laughing, at White House prior to Wilson’s inauguration ceremonies” Image courtesy of Library of Congress

Image courtesy of Library of Congress

Image courtesy of Library of Congress

Woodrow Wilson, March 5, 1917

Image courtesy of Library of Congress

“Telegram from Evangeline Booth, Commander of the Salvation Army” Image courtesy of Library of Congress

Warren G. Harding, March 4, 1921

“Woodrow Wilson, Warren G. Harding, Philander Knox and Joseph Cannon, in convertible” Image courtesy of Library of Congress

Image courtesy of Library of Congress

Calvin Coolidge, March 4, 1925

“President Coolidge, Mrs. Coolidge and Senator Curtis on the way to the Capitol” Image courtesy of Library of Congress

Herbert Hoover, March 4, 1929

Image courtesy of Library of Congress

Franklin D. Roosevelt, March 4, 1933

Inaugural Program, Inauguration. Franklin D. Roosevelt President of the United States. John N. Garner Vice President of the United States. Image courtesy of Library of Congress

Image courtesy of Library of Congress

Franklin D. Roosevelt, January 20, 1937

Image courtesy of Library of Congress

Image courtesy of Library of Congress

“Ticket for the 1937 inauguration, the first to take place on January 20th.” Image courtesy of FDR Library

“Eleanor Roosevelt poses in her inaugural gown at the White House.” Image courtesy of FDR Library

Franklin D. Roosevelt, January 20, 1941

“Franklin and Eleanor Roosevelt riding in an open car, returning to the White House from FDR’s third inauguration.” Image courtesy of FDR Library

Excerpt from home movie of FDR driving and walking with assistance to take the Oath of Office on January 20, 1941.

Franklin D. Roosevelt, January 20, 1945

Image courtesy of Library of Congress

“Crowd stands in snow for inauguration” Image courtesy of Library of Congress

Harry S. Truman, January 20, 1949

“Truman and Barkley during Inaugural parade.” Image courtesy of Truman Library

Dwight D. Eisenhower, January 20, 1953

“Ike responds to cheers of crowd.” Image courtesy of Library of Congress

“With smiles and a wave, President Harry Truman and his successor, Dwight D. Eisenhower, leave White House in an open car on way to Capitol for inauguration ceremonies.” Image courtesy of Library of Congress

Dwight D. Eisenhower, January 21, 1957

“President Eisenhower waves to the crowd” Image courtesy of Eisenhower Library

“Dwight Eisenhower and Richard Nixon watching inaugural parade with Anne & David Eisenhower and Julie & Tricia Nixon” Image courtesy of Eisenhower Library

“Dwight and Mamie Eisenhower attend the Inaugural Ball with John and Barbara Eisenhower” Image courtesy of Eisenhower Library

John F. Kennedy, January 20, 1961

Image courtesy of National Archives

“President-elect John F. Kennedy shakes hands with Father Richard J. Casey, the Pastor, after attending Mass at Holy Trinity Church … prior to inauguration ceremonies.” Image courtesy of Library of Congress

Lyndon B. Johnson, January 20, 1965

“President Lyndon B. Johnson, Lady Bird Johnson, Lynda Bird Johnson, and Luci Baines Johnson preparing for Inauguration ceremonies.” Image courtesy of LBJ Library

Image courtesy of Library of Congress

“Secret service agents try to hold back the crowds that surge forward to watch President Johnson dance with the First Lady at the inaugural ball at the National Guard Armory” Image courtesy of Library of Congress

Richard M. Nixon, January 20, 1969

Image courtesy of Library of Congress

“President and Mrs. Nixon waving to the crowd from the Presidential limousine in the inaugural motorcade” Image courtesy of Library of Congress

Richard M. Nixon, January 20, 1973

Image courtesy of White House

Image courtesy of Library of Congress

Jimmy Carter, January 20, 1977

Image courtesy of Jimmy Carter Presidential Library

Image courtesy of Library of Congress

Ronald Reagan, January 20, 1981

Image courtesy of Library of Congress

Image courtesy of Library of Congress

Ronald Reagan, January 21, 1985

Image courtesy of Reagan Library

“1985 Inaugural Ball: President and Mrs. Reagan in National Air and Space Museum” Image courtesy of Smithsonian

George H. W. Bush, January 20, 1989

Image courtesy of Smithsonian

“1989 Presidential Inaugration, George H. W. Bush, Opening Ceremonies, at Lincoln Memorial” Image courtesy of Smithsonian

Bill Clinton, January 20, 1993

“While the Clintons and Gores watch, Chelsea Clinton rings a replica of the Liberty Bell during festivities kicking off the Clinton/Gore 1993 Inaugural events.” Image courtesy of Smithsonian

“George Bush and Bill Clinton shake hands just after the inaugural ceremonies at the U.S. Capitol.” Image courtesy of Smithsonian

Image courtesy of Smithsonian

Bill Clinton, January 20, 1997

Image courtesy of Smithsonian

Image courtesy of Smithsonian

George W. Bush, January 20, 2001

Image courtesy of White House

Image courtesy of Library of Congress

George W. Bush, January 20, 2005

Image courtesy of White House

Image courtesy of White House

Image courtesy of White House

Barack Obama, January 20, 2009

Image courtesy of Master Sgt. Cecilio Ricardo, U.S. Air Force

“President Barack Obama is given the Oath of Office for a second time by Chief Justice John G. Roberts” Image courtesy of Pete Souza/White House

“President Barack Obama and First Lady Michelle Obama share a private moment in a freight elevator at an Inaugural Ball” Image courtesy of Pete Souza/White House

“President Barack Obama and First Lady Michelle Obama ride in a golf cart at an Inaugural Ball” Image courtesy of Pete Souza/White House

BONUS: Pre-1913 Presidential Inaugurations

Inauguration of Abraham Lincoln, March 4, 1861

Image courtesy of Library of Congress

Click here to view this gallery.

This story originally published on Mashable here.

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Five Things to Know About The Lumineers

By Marisa Laudadio

01/19/2013 at 06:00 PM EST

From left: Wesley Schultz, Neyla Pekarek and Jeremiah Fraites

Alan Poizner/PictureGroup

You already know their hit song "Ho Hey" with its catchy shout-it-out chant that sticks in your head – but what's behind Denver-based band The Lumineers' cool blend of indie rock and Americana?

Here are five things to know about the trio – Wesley Schultz (lead vocals, guitar), 30; Jeremiah Fraites (guitar), 27; and Neyla Pekarek (cello, piano), 26 – who are up for two Grammys (best new artist and best Americana album) and are also performing on Saturday Night Live this week alongside host Jennifer Lawrence.

1. Most people think that 'Ho Hey' – which reached No. 1 on three different charts – is about a romantic relationship, but that's not the whole story.
"The essence of the song was that I was really struggling to make ends meet in the big city when I was living in Brooklyn and working in New York. It was a myth, this idea that you'd go there and get discovered and it would be this great place for music," explains Schultz, who, like Fraites, hails from New Jersey and moved to Denver in recent years, where they met Pekarek.

"It's about a lost love in some ways, but it's also a lost dream. It's funny that a lot of people play it at their weddings because it was written from a different place. But it's kind of a beautiful thing, actually, that people can take something I was feeling really, really down about and turn it into a message of hope."

2. They've only recently been able to quit their day jobs.
"I was working as a busser, a bartender, a barista, a guitar teacher, caterer – a lot of service industry jobs, because it allows you to get away and tour if you need to or take a night off to play," explains Schultz.

"Jer was bussing tables right along beside me. And Neyla was a hostess and a substitute teacher. She'd been offered a full-time teaching position while we were in the midst of touring – and losing a lot of money – and she still stuck with it. Somehow she chose this over that, which is absurd, but we're glad she did!"

3. They named their hit song carefully.
Were they ever concerned people might call it "Hey Ho" in a derogatory way? "Yeah, at some point we laughed about it," says Schultz. "We specifically named it 'Ho Hey' instead of 'Hey Ho' [for that reason]. If people searched for it online, we'd rather it not be something that takes you in that direction."

Do they mind when people get the title wrong? "Oh no, that would be a little pretentious!" says Schultz with a chuckle. "It's kind of a silly name to begin with."

4. That's Schultz's mom on the cover of their debut, self-titled album.
"It's my mom, Judy, as a child, and her mother," he explains. "I'd asked my mom if she had any old photos that I could look through a while back, and I fell in love with it. You know if you set up a child for a picture then can't get out of the frame in time? My mom had a funny take on it: It's our first album, kind of our baby, like this child."

Schultz thanked his mom for all her years of emotional support with some heavy metal when their album went gold. "I had the plaque sent to my mom, because she'd been really supportive of us and believed in us when a lot of people were pretty concerned. And now she's got a platinum one!"

5. Their band name has more than one meaning.
While Schultz and Fraites have been playing music together for more than eight years (previous band names include Free Beer, 6Cheek, and Wesley Jeremiah), they've only been known as The Lumineers for the last four thanks to a mistake.

"We were playing a small club in Jersey City, N.J.," explains Schultz, "and there was a band out there at the time called Lumineers who were slotted for the same time, same day, the next week. The person running the show that night [mistakenly] announced us as The Lumineers."

The name stuck. "It doesn't mean anything literally. It's a made-up word," says Schultz. Another strange coincidence they learned? "It's also the name of a dental veneer company," he adds.

So how are Schultz's teeth? "I have a pretty good smile," he says with a big laugh. "I won 'Best Smile' in high school. It's a pretty big deal."

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Lilly drug chosen for Alzheimer's prevention study

Researchers have chosen an experimental drug by Eli Lilly & Co. for a large federally funded study testing whether it's possible to prevent Alzheimer's disease in older people at high risk of developing it.

The drug, called solanezumab (sol-ah-NAYZ-uh-mab), is designed to bind to and help clear the sticky deposits that clog patients' brains.

Earlier studies found it did not help people with moderate to severe Alzheimer's but it showed some promise against milder disease. Researchers think it might work better if given before symptoms start.

"The hope is we can catch people before they decline," which can come 10 years or more after plaques first show up in the brain, said Dr. Reisa Sperling, director of the Alzheimer's center at Brigham and Women's Hospital in Boston.

She will help lead the new study, which will involve 1,000 people ages 70 to 85 whose brain scans show plaque buildup but who do not yet have any symptoms of dementia. They will get monthly infusions of solanezumab or a dummy drug for three years. The main goal will be slowing the rate of cognitive decline. The study will be done at 50 sites in the U.S. and possibly more in Canada, Australia and Europe, Sperling said.

In October, researchers said combined results from two studies of solanezumab suggested it might modestly slow mental decline, especially in patients with mild disease. Taken separately, the studies missed their main goals of significantly slowing the mind-robbing disease or improving activities of daily living.

Those results were not considered good enough to win the drug approval. So in December, Lilly said it would start another large study of it this year to try to confirm the hopeful results seen patients with mild disease. That is separate from the federal study Sperling will head.

About 35 million people worldwide have dementia, and Alzheimer's is the most common type. In the U.S., about 5 million have Alzheimer's. Current medicines such as Aricept and Namenda just temporarily ease symptoms. There is no known cure.

___

Online:

Alzheimer's info: http://www.alzheimers.gov

Alzheimer's Association: http://www.alz.org

___

Follow Marilynn Marchione's coverage at http://twitter.com/MMarchioneAP

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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.

The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.

Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.

Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.

"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.

Major technology companies also report next week, but the bar for the sector has been lowered even further.

Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.

Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.

Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.

CASH POURING IN, HOUSING DATA COULD HELP

Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.

The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.

"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.

"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."

Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.

Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.

The new home sales report on Friday is expected to show a 2.1 percent increase.

The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.

Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.

The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.

"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.

"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."

(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)

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New Northern Ireland Violence May Be About More Than the British Flag

Peter Muhly/Agence France-Presse — Getty Images

Police officers in Belfast, Northern Ireland, remained with their armored vehicles as a car burned after violence between unionists and loyalists on Jan. 12.

BELFAST, Northern Ireland — For more than six weeks, it has been a dismal case of back-to-the-future, a crudely sectarian upheaval that has defied all attempts at peacemaking.

Paul Faith/Press Association, via Associated Press

Loyalist protests began in Belfast after the City Council voted to reduce the number of days a year the British flag was flown in public, to 18 from 365.

The scenes recall the sectarian bitterness that infused the 30 years of virtual civil war known as the Troubles: night after night of street protests marshaled by balaclava-wearing militants, who have updated their tactics by using social media to rally mobs; death threats to prominent politicians, some of whom have fled their homes and hidden under police guard; firebombs, flagstones and rocks hurled at churches, police cars and lawmakers’ offices; protesters joined by rock-throwing boys of 8 and 9; neighborhoods sealed off for hours by the police or protesters’ barricades.

Many had hoped that the old hatreds between Northern Ireland’s two main groups — the mainly Protestant, pro-British unionists, and the mainly Roman Catholic republicans, with their commitment to a united Ireland — would recede permanently under the auspices of the Good Friday agreement. That accord was reached 15 years ago as a blueprint for the power-sharing government that now rules the province.

But the fragility of those hopes has been powerfully demonstrated by more than 40 days and nights of violence that were triggered by a decision to cut back on the flying of the Union Jack, Britain’s red, white and blue national flag, over the grandly pillared, neo-Classical pile City Council building in central Belfast.

By the latest count, more than 100 police officers have been injured, along with dozens of protesters and bystanders. At times, the violence has expanded to other cities, including Londonderry. Business has slumped. Police commanders, their forces overwhelmed, have assigned dozens of officers to scan hundreds of hours of closed-circuit video, looking for ringleaders.

The crisis began modestly enough. The Belfast council, its pro-British members outvoted by a coalition of republicans and a small liberal bloc, decided in early December to limit the flag flying to 18 days a year, as specified by London for all of Britain. Through the decades when the council was dominated by Protestant unionists, committed to links with Britain, the flag flew from the pinnacle of the building every day of the year.

Incongruously, perhaps, most of those 18 days do not represent landmarks in Britain’s history — Nelson’s victory at Trafalgar, say, or Germany’s surrender in the Second World War — but the birthdays of Queen Elizabeth II and her family members, including the former Kate Middleton, now the Duchess of Cambridge, on whose 31st birthday, Jan. 9, the Belfast flag fluttered for the first time since it came down in early December. Under Britain’s strict rules about flying the national standard on public and private buildings, not even the Parliament buildings in London fly it on any but government-designated days. But the hauling down of the Belfast flag provoked a furious reaction, the most protracted period of unrest in many years in Northern Ireland.

Among pro-British loyalists, the episode was seen as part of the step-by-step erosion of the British presence, a stripping of what many of them call their identity. Other examples they invoke have also been symbolic, including moves to delete the word Ulster — an ancient designation for the northern Irish provinces commonly used by Protestants but mostly shunned by republicans — from the formal names of the province’s police force and its military reservists, and to remove the British crown emblem from the cap and shoulder badges of prison guards and other public officials.

But many of the province’s political commentators see the flag dispute as a token of something more profound and ultimately more threatening to the hopes for a permanent peace here.

They say the council’s decision on the flag, made possible by the fact that nationalists now hold 24 seats on the council, compared with 21 for the unionists, reflects the rapid growth of the Catholic population in the years since the Good Friday agreement, unsettling the long-held assumption among unionists that Protestants would constitute a permanent majority in the province.

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Paid apps are history

This week marked an important moment in the evolution of the iOS app market. As Pages just slipped out of the iPad top 10 highest grossing apps chart, there are now no paid apps among the ten applications that generate most revenue on the iPad. When the iPad application market was born a few years ago, it was dominated by relatively stiffly priced applications, mimicking the PC software or game console software markets. But over the past couple of years, app vendors have realized that free apps with clever in-app purchasing hooks create much more revenue than paid apps.

[More from BGR: BlackBerry 10 browser smokes iOS 6 and Windows Phone 8 in comparison test [video]]

The same applies to the iPhone — there is only one paid app among the twenty highest grossing iPhone apps today. It is notable that some of the highest grossing apps have relatively low download volumes. Clash of Clans has been the top-grossing iPad application for all of January, but it is only ranked 53rd on the iPad download chart. Hay Day is the seventh-biggest application when it comes to revenue generation on the iPhone, but is only ranked at #104 when it comes to download volume.

[More from BGR: Galaxy S IV benchmarks may confirm 1.8GHz CPU and Android 4.2]

Leading app developers have figured out how to decouple download volume from revenue generation by creating free games that seduce their fans into paying steadily for in-app features. The types of of games that require a $ 0.99 or a $ 2.99 fee per download are turning into something resembling nostalgia items. For a stark example of how badly the revenue generation power of paid apps has faded, consider that the current #1 paid app on iPhone, Wood Camera, is 46th on the iPhone chart that lists top-grossing apps.  The future belongs to free apps.

This article was originally published on BGR.com

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